InvestorQ : How were the automobile sales of Indian auto companies for the month of Mar-21?
swati Bakhda made post

How were the automobile sales of Indian auto companies for the month of Mar-21?

Sam Eswaran answered.
8 months ago

Here is what you need to know about the auto sales in India for the month of March 2021.

· Broadly sales of automobiles were strong but that could attributed largely to the low base of last year. However, the strong traction in the production and sales of passenger vehicles sales continues unabated in the month of March.

· Sentiments in the PV segment are positive due to a preference for personal mobility at a time when public transport is not too reliable. CV sales have certainly picked up in tandem with the recovery in the economy.

· Tractor sales were already strong and the momentum continued in the month of March too. Despite worries over the farmer’s strike, the demand has been robust on the back of a good Kharif last year and 2 good Rabi seasons.

· Overall PV volumes for top eleven companies was up 125% on a yoy basis but sequential growth is a lot more modest at just about 4%. On a yoy basis, Maruti Suzuki saw growth of 92%, Tata Motors 422%, M&M 394% with most growth in compact SUVs.

· In the case of Tata Motors, total CV sales grew 470% on a yoy basis in March while for the Mar-21 quarter it was up by 52%. The top-4 CV manufacturers witnessed an overall growth of 616% yoy.

· Good traction was also visible in tractor sales. M&M saw total tractor sales for Mar-21 up 127.5% at 30,970 units. For FY21 overall, M&M reported 17% yoy growth in overall tractor sales. The momentum is expected to continue due to good reservoir levels.